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Northland Securities, Inc. Page 5 <br />Issuing Process <br />Northland will receive bids to purchase the Bonds on Tuesday, June 4, 2024, at 10:00 AM. <br />Market conditions and the marketability of the Bonds support issuance through a competitive <br />sale. This process has been chosen as it is intended to produce the lowest combination of <br />interest expense and underwriting expense on the date and time set to receive bids. The <br />calendar of events for the issuing process can be found in Attachment 4. <br />Municipal Advisor: Northland Securities, Inc., Minneapolis, Minnesota <br />Bond Counsel: Kennedy & Graven Chartered, Minneapolis, Minnesota <br />Paying Agent: U.S. Bank Trust Company, National Association, St. Paul, Minnesota